The project is nearing completion and is expected to be connected to the grid in the coming months.
Additionally, Phoenix Insurance has converted a €4.2 million loan into a 49% stake in the project's special purpose vehicle. The remaining loan will be converted into an unsecured shareholder loan.
Econergy is also developing a pipeline of 200 MW of solar projects in Romania, for which Phoenix Insurance has options to convert loans into equity.
Arctic Paper S.A. has announced the acquisition of a 4 MW solar park located near Warsaw, Poland.
The financing is for a logistics center in Bydgoszcz developed for a leading e-commerce firm.
EIB and ORLEN Group, Poland's largest energy company, signed a €200 million loan agreement for projects supporting energy transition.
The European Commission has endorsed a positive preliminary assessment of Poland's payment request for the second and third instalments for €9.4 billion.
OMV Petrom has initiated construction on its largest solar project in Romania.
EBRD will support the development of high-quality, energy-efficient residential housing in Poland through a €100 million loan to the Polish subsidiaries of Vantage Development.
The energy transition is a central priority for ENGIE, both worldwide and in Romania.
OMV Petrom announced that starting this year, its sustainability reporting will be integrated into the company's Annual Report.
European Investment Bank and PGE Polska Grupa Energetyczna seal new financing agreement worth over €525 million.
Ingka Investments, the investment arm of the Ingka Group – the largest IKEA retailer, has inaugurated its first solar park in Poland, reinforcing the commitment to the renewable energy transition.
Hidroelectrica has signed a contract for the purchase of its first Li-ion battery energy storage system, which will be deployed at the Crucea Nord Wind Farm.
